The product planning process is one of the most controversial within any company. Everyone wants a hand in new product definition and almost everyone will have contributions that will make a new product successful. With all these interested parties, you are going to need a system to help you through the product planning process and a way to decide which ideas have the most merit. This system also needs to incorporate customer feedback, assure that important new product ideas are approved, and that development of them initiated immediately. What follows is a product planning system that works well for most companies.
The above diagram outlines the phases in the product planning cycle. In any given company, these steps may be condensed or combined. For example, some companies may use a single document to cover both the Market Requirements Document and the Functional Specification.
The steps are important because they allow you to gather input from all possible resources, evaluate the potential of each idea and gather input from all involved parties about which ideas will work and their ease of implementation.
Remember though, that it all starts with the input. There should be plenty of input from all stakeholders to generate plenty of new product ideas (that can be refined. The information on this page was retrieved from the Resources for Product Marketing Managers.
Example of Product Planning Process
This video shows the process after the inputs have been collected and several product ideas refined.
It's All About that Product...
Defined:
Product/Service Management is the designing, developing, maintaining improving, and acquiring products or services so that they meet customer needs.Best Practices for Product Development - Guy Kawasaki
Additional Information Regarding PSM and Product Life Cycle
The Product Planning Process
The product planning process is one of the most controversial within any company. Everyone wants a hand in new product definition and almost everyone will have contributions that will make a new product successful. With all these interested parties, you are going to need a system to help you through the product planning process and a way to decide which ideas have the most merit. This system also needs to incorporate customer feedback, assure that important new product ideas are approved, and that development of them initiated immediately. What follows is a product planning system that works well for most companies.The above diagram outlines the phases in the product planning cycle. In any given company, these steps may be condensed or combined. For example, some companies may use a single document to cover both the Market Requirements Document and the Functional Specification.
The steps are important because they allow you to gather input from all possible resources, evaluate the potential of each idea and gather input from all involved parties about which ideas will work and their ease of implementation.
Remember though, that it all starts with the input. There should be plenty of input from all stakeholders to generate plenty of new product ideas (that can be refined.
The information on this page was retrieved from the Resources for Product Marketing Managers.
Example of Product Planning Process
This video shows the process after the inputs have been collected and several product ideas refined.